India, June 9 -- Shares of Ola Electric surged over 10% to touch an intraday high of Rs.49.01 on the BSE during the intraday trading today amid buying interest in new-age tech stocks.

The stock later pared some of the gains and was trading 8.5% higher at Rs.48.31 at 13:30 PM IST. The company's market capitalisation stood at about Rs.22,359.8 Cr ($2.3 Bn).

The stock has been on an upswing for the last few months, having rebounded more than 90% from its all-time low of around Rs.21.21 it hit on March 2 this year. The rally today came days after the EV maker raised Rs.780.24 Cr through a qualified institutional placement (QIP).

Last week, Ola Electric issued 21.75 Cr equity shares at Rs.35.86 apiece as part of its QIP. The issue was overs...